This proposal is put forth on behalf of the humanDAO team.
The treasury currently holds $2.1m of assets. We propose to allocate 330,000 USDC from the treasury to provide a 9-month runway for builders. The USDC will be used to supply salaries to 26-28 people (depending on how many developers are contracted).
Unfortunately, due to market forces, $HDAO LPs cannot support using the native token for salaries due to the selling pressure and low liquidity. Using USDC as a means of payment for builders is crucial for attracting and keeping talent during prolonged periods of market drawdown.
A 9-month runway allows security for both builders & the DAO to finish PANFT and HDAO 2.0. We are on track to fully release PANFT in early December and HDAO 2.0 in January.
Since the team’s last proposal - found here. There have been significant steps forward for the DAO as well as a pivot. As it stands, the vision for humanDAO is more precise than ever.
The core team & contributors are currently focussing on six critical projects interlinked into one comprehensive DAO strategy.
P2E: Working towards recruitment & engagement of scholars, building on existing P2E strategies, expanding into the Mirror world scholarship and surveying the P2E landscape for new investment opportunities. Unfortunately, the bear market has proven very difficult for Axie Infinity even as their ecosystem is building out and a new version of their game has been released. There are many games building in the ecosystem, and we receive numerous inquiries through our partnership form and partners.
Education: A core pillar of humanDAO is educating new users about web3. The DAO is positioned to fulfill this objective following the Academy launch, with some inspiring plans for future content & development. The Rep3 ID module will be heavily involved in incentivizing the academy platform and pushing the boundaries of online credentials.
HDAO 2.0 (powered by Rep3 ID): A web3 system is being designed and implemented by the Rep3 team, where community members can build a reputation and identity that will unlock new opportunities in a crypto-based world. The team has created a unique process that will incentivize an array of tasks for the DAO. Using multiple strategies that employ NFT tech & the $HDAO token, it is expected that DAO community numbers will begin to increase alongside governance participation exponentially. The goal is for humanDAO to become the epicenter for governance participation while trailblazing the way for new and unique community ownership.
Pocket Assistant App: App development for PANFT is going incredibly well. We’ve increased the dev team and they have created a working app and is undergoing its second round of closed beta testing. After this, we will open it up to additional projects in the web3 industry to begin obtaining outside feedback and awareness.
Pocket Assistant Management: One of the challenges of creating a new app is that the associated timelines are difficult to predict. A talented group of PAs have joined the PA project; however, alongside this comes waiting, training, beta testing, examination & flexible working to manage. PA management is tasked with keeping the Pocket Assistants engaged and onboard until full launch.
Business Development: Recently, the humanDAO team decided to alter the business model of PANFT. The bear market is proving too powerful for an NFT drop to be successful. Awareness is hard, and a pivot was needed.
Deciding it would be better to offer the service in a subscription model, with recurring revenue, instead of a traditional NFT mint. This model will benefit all parties and show our ongoing commitment to the project and improve long-term sustainability.
The community should note that this pivot in the business model came from the decision to cancel the NFT art contest due to poor engagement from the web3 community saving the DAO $30,000.
The above project areas are working towards two main goals - to build humanDAO 2.0 & PANFT.
humanDAO 2.0: The web3 space has evolved rapidly since humanDAO conception, and current DAO processes no longer represent how the community “should ‘’ engage with the DAO. Through SBT (soulbound tokens) we can finally achieve our goal of properly incentivizing the community to take an active part in building and be rewarded, all while growing their reputation and credentials in web3.
With the innovative rep3 system, community members can earn rewards in the form of $HDAO, but with proper, long-term incentives that will make hDAO the largest DAO in the world. The Rep3 system will kick off the long-standing mission of community distribution of hDAOs native token. Remember, the goal has always been to distribute most of the tokens to the community.
Underpinning Rep3 will be an NFT avatar system that will level up as the member progresses within the DAO… We’re really excited about some of these features, and we will share lots more details in the coming months.
PANFT: This project has built a pool of over 150 PAs, developed an entire app for both PAs & NFT holders to interact, created processes & roadmaps for a web3 gig economy, and will begin focussing on building strategic partners within crypto & web3 native projects.
The Biz Dev team has started work on the outreach strategy to gain users of the Pocket Assistant platform, as this would be the first MAJOR revenue stream that hDAO has deployed.
We feel we can hit a point of builder salary sustainability through the platform’s revenues within the next 9-months. Meaning the treasury will no longer have to fund projects/team through its long term holdings as the revenues should cover that as well as add revenue to the treasury & enable the expansion of the builder team for future projects.
It is proposed that the treasury provides a USDC runway to fund these endeavors over the next nine months. Why nine months? Because with the previous 3 month budget, that gives the builders 1 year to create and deploy humanDAO 2.0 and PANFT. The budget required is 344,500 USDC* (This figure has been increased by $14,500 - please see update note at the bottom of the proposal) - transferred to the builder safe multisig to be used for salaries for 26-28 team members.
The treasury holds a total of $2.1 assets, which is more than enough to cover all the runway costs and leave a large pool for continued, long-term investment into assets.
PANFT is shaping to be an innovative product that can produce a profitable revenue stream for the DAO. The subscription model will allow the project to be scaled at a more manageable rate and incorporate the $HDAO token into the process, dramatically improving token utility.
- Launch PA NFT app.
- Launch hDAO avatar/Rep3 ID system.
- Generate enough revenue through PA NFT to sustain a full time builder team.
Discussing with our partners at Rep3, today we have received the final fee for all the work that needs to be carried out.
the scope of work can be broken down into 4 areas of work that Rep 3 will be managing for us.
- Dashboard & whitelabel support
Building this platform is crucial to the success of humanDAO 2.0 - Rep3 has quoted $14,500 to carry out all required work
This fee has been added as an edit to the overall budget of the proposal. If this update affects your vote, please update accordingly and discuss it in the comments.
Do you approve of this proposal?